Question 1

Forecasting tools can be broadly categorized into two groups. Those are:
A)Qualitative, Operational
B)Quantitative, Operational
C)Qualitative, Quantitative
D)Regression and time series analysis

Accepted Answer

Forecasting tools are broadly categorized into qualitative and quantitative methods. Qualitative methods are based on judgment and opinion, while quantitative methods rely on historical data and mathematical models.

Question 2

identifies a firm's major competitors and their particular strengths and weaknesses in relation to a sample firm's strategic position.
A)Competitive Profile Matrix
B)External Factor Evaluation matrix
C)Internal Factor Evaluation Matrix
D)Boston consulting group matrix

Accepted Answer

The Competitive Profile Matrix (CPM) identifies a firm's major competitors and their particular strengths and weaknesses in relation to the firm's strategic position. This tool allows companies to see how they stack up against their competitors on various factors deemed important to success in the industry.

Question 3

Organizing means an identifiable group of people contributing their efforts towards the attainment of same goal. It is important at the time of:
A)Environmental scanning
B)Strategy formulation
C)Strategy Implementation
D)Strategy evaluation

Accepted Answer

Organizing is crucial during Strategy Implementation because it involves arranging resources and tasks to achieve the organization's goals effectively. This phase requires a clear structure and allocation of responsibilities to ensure the strategic plan is executed properly.

Question 4

Political variables have a significant effect on
A)Strategy formulation and implementation
B)Strategy formulation and evaluation
C)Strategy implementation and evaluation
D)Strategy formulation, implementation and evaluation

Accepted Answer

The answer of Political variables have a significant effect on
A)Strategy...

Question 5

Which of the following are signs of weakness in a company's competitive position?
A)A return-on-equity is below 25% and earnings per share of less than Rs. 2.00
B)A price set by the firm higher than its rivals
C)A declining market share, poor product quality and few sales in market
D)Lower revenues and profit margin and narrow product line than the market leader

Accepted Answer

A declining market share, poor product quality, and few sales in the market indicate a weakening competitive position as they reflect the company's inability to compete effectively with its rivals.

Question 6

It directs at developing new products before competitors do at improving product quality or at improving manufacturing processes to reduce costs.
A)Marketing
B)Opportunity analysis
C)Research and development
D)Management

Accepted Answer

Research and development (R&D) focuses on creating new products, enhancing product quality, and innovating in manufacturing processes to stay ahead of competitors and reduce costs.

Question 7

The central purpose of strategic evaluation is ---------------
A)Evaluate effectiveness of strategy to achieve organisational objectives
B)Evaluate effectiveness of control system to measure achievements.
C)Evaluate effectiveness of strategies to be implemented efficiently.
D)Evaluate effectiveness of the strategy implementation process.

Accepted Answer

The central purpose of strategic evaluation is to assess the effectiveness of a strategy in achieving the organizational objectives. This involves determining whether the strategic goals are being met and if the strategy is contributing to the organization's success.

Question 8

Strategy evaluation at the level involves using specific performance measures-qualitative and quantitative-for each functional area.
A)organizational
B)operational
C)functional
D)production

Accepted Answer

Strategy evaluation at the functional level involves assessing the specific performance measures, both qualitative and quantitative, for each functional area such as marketing, finance, human resources, and operations. This is because strategy at the functional level is focused on how each department contributes to the overall strategy.

Question 9

---------- is described as the process which examines all the components, internal or external, that has an influence on the performance of the organization.
A)Environmental analysis
B)Competitor analysis
C)Macro analysis
D)Any of the above

Accepted Answer

Environmental analysis is the process that involves examining all components, both internal and external, that can influence an organization's performance. This includes analyzing factors such as market trends, regulatory policies, economic conditions, and technological advancements. Competitor and macro analyses are subsets of environmental analysis, focusing on specific areas rather than the comprehensive approach of environmental analysis.

Question 10

Which of the following is not an external environment component of a business?
A)Competitors
B)Corporate structure
C)Suppliers
D)customers

Accepted Answer

Corporate structure is considered an internal environment component of a business because it pertains to the organization's internal operations and management, including its organizational design, leadership, and internal processes, unlike competitors, suppliers, and customers which are external factors.

Question 11

---------- analysis begins with identifying present as well as potential competitors.
A)Environment
B)Internal
C)Competitor
D)External

Accepted Answer

Competitor analysis specifically focuses on understanding both current and potential competitors in the market.

Question 12

Characteristics of a business which makes it disadvantageous relative to competitors.
A)Threat
B)Failure
C)Weakness
D)None of these

Accepted Answer

Weaknesses are characteristics of a business that place it at a disadvantage relative to competitors, as identified in a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.

Question 13

Elements in a company's external environment that allow to formulate and implement strategies to increase profitability.
A)Strength
B)Success
C)opportunity
D)productivity

Accepted Answer

Opportunities are external elements that a company can exploit to its advantage for strategy formulation and implementation to increase profitability. Strengths are internal attributes, while success and productivity are outcomes or internal processes, not external environmental elements.

Question 14

In PEST analysis, "P" stands for------------
A)Profitability factors
B)Productivity factors
C)Political factors
D)Pricing factors

Accepted Answer

"P" in PEST analysis stands for Political factors, which include government policies, political stability or instability in overseas markets, foreign trade policy, tax policy, labor law, environmental law, trade restrictions, tariffs, and so on. These factors can affect how a company operates, its costs, and the demand for its products.

Question 15

In PEST analysis, "S" stands for------------
A)Stability factors
B)Social factors
C)Sales factors
D)Strategic factors

Accepted Answer

In PEST analysis, "S" stands for Social factors, which include cultural aspects, health consciousness, population growth rate, age distribution, career attitudes, and emphasis on safety. These factors help businesses understand consumer needs and determine what impacts their market.

Question 16

In PEST analysis, "T" stands for------------
A)Tactical factors
B)Threat factors
C)Task factors
D)Technological factors

Accepted Answer

In PEST analysis, "T" stands for Technological factors, which include aspects like innovation, automation, and technology incentives that can affect an organization or industry.

Quiz 3: Strategic Management and Analysis

Forecasting tools can be broadly categorized into two groups. Those are:

identifies a firm's major competitors and their particular strengths and weaknesses in relation to a sample firm's strategic position.

Organizing means an identifiable group of people contributing their efforts towards the attainment of same goal. It is important at the time of:

Political variables have a significant effect on

Which of the following are signs of weakness in a company's competitive position?

It directs at developing new products before competitors do at improving product quality or at improving manufacturing processes to reduce costs.

The central purpose of strategic evaluation is ---------------

Strategy evaluation at the level involves using specific performance measures-qualitative and quantitative-for each functional area.

---------- is described as the process which examines all the components, internal or external, that has an influence on the performance of the organization.

Which of the following is not an external environment component of a business?

---------- analysis begins with identifying present as well as potential competitors.

Characteristics of a business which makes it disadvantageous relative to competitors.

Elements in a company's external environment that allow to formulate and implement strategies to increase profitability.

In PEST analysis, "P" stands for------------

In PEST analysis, "S" stands for------------

In PEST analysis, "T" stands for------------